AMÉRICA MÓVIL, S.A.B. DE C.V. (Exact Name of the Registrant As Specified in the Charter)
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF A FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of February 2021 Commission File Number: 1-16269 AMÉRICA MÓVIL, S.A.B. DE C.V. (Exact Name of the Registrant as Specified in the Charter) America Mobile (Translation of Registrant’s Name into English) Lago Zurich 245 Plaza Carso / Edificio Telcel, Piso 16 Colonia Ampliación Granada, Miguel Hidalgo 11529 Mexico City, Mexico (Address of Principal Executive Office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐ América Móvil’s fourth quarter of 2020 financial and operating report Mexico City, February 9th, 2021 - América Móvil, S.A.B. de C.V. (“América Móvil”) [BMV: AMX] [NYSE: AMX, AMOV], announced today its financial and operating results for the fourth quarter of 2020. ● We added 6.8 million wireless subscribers in the quarter, twice as many as in the precedent quarter. They included 2.7 million mobile postpaid subscribers of which almost two millon subs came from Brazil, 223 thousand from Peru and 201 thousand from Colombia. In the prepaid segment we gained 4.0 million clients, with Brazil and Mexico adding 1.2 million subs each. ● Fixed-broadband is still the main driver on the fixed-line platform: we connected 208 thousand new accesses, a 5.4% increase of our installed base. ● Fourth quarter revenues of 255 billion pesos were down 3.1% in Mexican peso terms from the year-earlier quarter with equipment revenues falling 9.4% and service revenues that were almost flat from a year before. However, service revenues expanded 2.2% year-on-year at constant exchange rates driven by postpaid revenues, up 6.3% and fixed-broadband revenues that rose 8.4%. ● EBITDA of 82.9 billion pesos was up 1.3% in Mexican peso terms; at constant exchange rates it increased 5.3%. Correcting for a one-off effect booked in the fourth quarter of 2019 concerning the restructuring of certain lease agreements, consolidated EBITDA would have increased 7.6% at constant exchange rates. Our EBITDA margin stood at 32.5%, up 1.4 percentage points from a year before. ● Our 40.4 billion pesos operating profit and 15.4 billion pesos in comprehensive financing income resulted in a net profit of 37.3 billion pesos in the quarter, 79.6% higher than in the year-earlier quarter. ● Our cash flow enabled us to cover capital expenditures of 129.6 billion pesos, shareholder distributions of 14.7 billion pesos, pension and other labor-related liabilities in the amount of 18.2 billion pesos and to reduce our net debt by 64.9 billion pesos throughout the year. ● At the end of December our net debt stood at 647 billion pesos, equivalent to 1.93 times EBITDA under IAS 17. We will host our conference call to discuss 4Q20 financial and operating results on February 10th at 9:00 am Mexico City time. To access the call please log on to www.americamovil.com/investors América Móvil’s Fundamentals 4Q20 4Q19 Earnings per Share (Mex$)(1) 0.56 0.31 Earning per ADR (US$)(2) 0.54 0.33 EBITDA per Share (Mex$)(3) 1.24 1.24 EBITDA per ADR (US$) 1.20 1.28 Net Income (millions of Mex$) 37,312 20,774 Average Shares Outstanding (billion) 66.73 66.01 (1) Net Income I Average Shares Outstanding (2) 20 shares per ADR (3) EBlTDA I Average Shares Outstanding América Móvil’s Subsidiaries as of December 2020 Equity Country Brand Business Participation Mexico Telcel wireless 100.0% Telmex wireline 98.8% Sección Amarilla other 100.0% Telvista other 90.0% Argentina Claro wireless 100.0% Telmex wireline 100.0% Brazil Claro wireless/wireline 99.6% Chile Claro wireless 100.0% Telmex wireline 100.0% Colombia Claro wireless/wireline 99.4% Costa Rica Claro wireless 100.0% Dominicana Claro wireless/wireline 100.0% Ecuador Claro wireless/wireline 100.0% El Salvador Claro wireless/wireline 95.8% Guatemala Claro wireless/wireline 99.3% Honduras Claro wireless/wireline 100.0% Nicaragua Claro wireless/wireline 99.6% Panama Claro wireless/wireline 100.0% Paraguay Claro wireless/wireline 100.0% Peru Claro wireless/wireline 100.0% Puerto Rico Claro wireless/wireline 100.0% Uruguay Claro wireless/wireline 100.0% USA Tracfone wireless 100.0% Netherlands KPN wireless/wireline 19.7% Austria Telekom Austria wireless/wireline 51.0% The reported figures for Argentina corresponding to the fourth quarter of 2020 are presented in accordance with a) IAS29 reflecting the effects of the adoption of inflationary accounting that became mandatory after the Argentinean economy was deemed to be hyperinflationary in the third quarter of 2018 and b) IAS21 translated to Mexican pesos using the end-of-period exchange rate. All comparisons at constant exchange rates for America Movil’s consolidated figures will exclude Argentina to ensure consistency. Relevant Events In December we received a resolution issued by the Federal Telecommunications Institute (IFT) on its evaluation of the asymmetrical regulations imposed on March 2014 to Telcel and Telmex, as preponderant agents. In general terms, for fixed services, it resolved: (i) the use of a long-run average incremental costs model to determine the local loop indirect access services rates, and that IFT may determine competitive geographic zones where such rates will be determined by Telmex; (ii) for dedicated-link leasing services, the IFT may determine competitive geographic zones where rates will be determined pursuant to a price cap methodology and (iii) certain operative and informational modifications to the electronic management system. In the mobile segment, the main additions and modifications are related to: (i) detail of information required for rate economic replicability analysis and (ii) rules applicable to purchase of handsets in installments by Telcel’s end users. The resolution will be challenged in accordance with applicable law. On December 14th we informed that the offer submitted by our Brazilian subsidiary, Claro, jointly with Telefónica Brasil and TIM for the acquisition of the mobile business owned by Oi Group was accepted. The offer is in the amount of R$16.5 billion, of which Claro will pay 22%. In consideration of such amount, Claro will receive 32% of Oi Group’s mobile business customer base and approximately 4.7 thousand mobile access sites. The closing of the transaction is subject to customary conditions including regulatory approvals from Anatel and Conselho Administrativo de Defesa Econômica, CADE. On this date, our Board of Directors approved a plan to spin-off our towers from América Móvil in Latin America. This spin-off will maximize the value of the infrastructure by becoming an independent entity entirely focused on development, construction and co-location of towers for wireless services. We expect to complete the reorganization of assets in 2021. Access Lines In light of greater observed and expected COVID contagion rates some countries imposed new confinement measures in various cities in December. Nonetheless, trends for the quarter generally show good results in terms of mobile net additions overall. After net additions of 6.8 million in the quarter—twice as many as in the precedent quarter—we finished the year with 287 million wireless subscribers. Net additions included 2.7 million postpaid subscribers and 4.0 million prepaids. Brazil led the way in terms of postpaid growth after adding almost two million subs, followed by Peru with 223 thousand and Colombia with 201 thousand; our postpaid base was up 10.1% year-on-year to 98 million subs. Mexico and Brazil added 1.2 million prepaid subs each and Colombia 784 thousand. On the fixed-line platform we connected 208 thousand broadband accesses, almost half of them in Colombia, bringing the total to 29.8 million, 5.4% more than a year before. Pay TV units and fixed voice lines were down -3.8% and -4.0%, respectively. We ended December with 81 million fixed-line RGUs. Wireless Subscribers as of December 2020 (1) Total (Thousands) Country Dec ’20 Sep ’20 Var.% Dec ’19 Var.% Argentina, Paraguay and Uruguay 24,234 23,996 1.0% 24,634 -1.6% Austria & CEE 21,864 21,609 1.2% 21,296 2.7% Brazil 63,140 60,005 5.2% 54,488 15.9% Central America 15,044 14,533 3.5% 15,488 -2.9% Caribbean 6,422 6,237 3.0% 6,244 2.9% Chile 6,435 6,505 -1.1% 6,873 -6.4% Colombia 33,009 32,024 3.1% 31,104 6.1% Ecuador 7,929 7,822 1.4% 8,493 -6.6% Mexico 77,789 76,563 1.6% 76,918 1.1% Peru 10,948 10,552 3.8% 11,611 -5.7% USA 20,682 20,876 -0.9% 20,876 -0.9% Total Wireless Lines 287,497 280,722 2.4% 278,027 3.4% (1) Includes total subscribers of all companies in which América Móvil holds an economic interest; does not consider the date in which the companies started being consolidated. Fixed-Line and Other Accesses (RGUs) as of December 2020 (1) Total Thousands Country Dec ’20 Sep ’20 Var.% Dec ’19 Var.% Argentina, Paraguay and Uruguay 1,459 1,385 5.3% 1,114 30.9% Austria & CEE 6,050 6,066 -0.3% 6,143 -1.5% Brazil 32,648 32,952 -0.9% 34,048 -4.1% Central America 4,247 4,227 0.5% 4,409 -3.7% Caribbean 2,558 2,532 1.0% 2,528 1.2% Chile 1,377 1,391 -1.0% 1,400 -1.6% Colombia 8,318 8,155 2.0% 7,613 9.3% Ecuador 420 446 -6.0% 446 -5.8% Mexico 21,925 22,011 -0.4% 21,992 -0.3% Peru 1,739 1,787 -2.7% 1,603 8.5% Total RGUs - - 80,740 80,953 0.3% 81,297 0.7% (1) Fixed Line, Broadband and Television (Cable & DTH).